Marketing students promote products on Twitter
Melbourne marketing students from the Royal Melbourne Institute of Technology (RMIT) university have developed a social media strategy to engage with younger people who fail to have proper life insurance.
A group of postgraduate students are experimenting with multiple campaigns on YouTube, Twitter and Facebook, among others in an attempt to create awareness about the need for personal coverage.
The senior marketing lecturer at the university, Dr Angela Dobele said that the simple fact that 95 per cent of Australians do not have appropriate personal insurance is clear conclusive proof that any traditional marketing ploy to promote such a product, has comprehensively failed.
"It's clear that something if not working and I think we have a real opportunity to rectify that.
"We're interested in seeing how new approaches to marketing of insurance might help generate more public discussion and interest in this area," she said.
The students are willing to work with any company who are interested, in order to expand their experimental pool.
One section of the campaign looks at taking photos and attaching funny captions which promote the message of obtaining insurance. One such picture sees a drawing of a man lying on the ground, apparently dead. A woman is standing over him but motioning to someone else; the caption reads 'the stupid sod choked on an olive again. Pass me that life insurance policy, will you?'
This sort of campaign stems from a trend on social media sites like Facebook, where a photo is posted with a caption which is completely out of context and provides new meaning to the original photo.
It comes more and more Australians are turning to social media to get an immediate response from their banks.
The Commonwealth and the National Australian Bank are a part of a large group of financial businesses who use the social media site. Thousands follow them on Twitter and read their Facebook pages.
A marketing expert has told the Herald Sun that down the line, banks will be putting employees in the role of social media monitors, to keep watch of customer feedback and questions, 24/7.
By Tim Wright